This Week: FedEx Earns, Fed Policy Statement, Housing Starts
A look at some of the key business events and economic indicators upcoming this week:
DELIVER THIS
Analysts predict the package delivery company will report Tuesday that its fiscal first-quarter earnings declined from a year earlier, even as revenue rose. FedEx has benefited from a boom in online shopping as the pandemic drags on. The company recently said it plans to hire up to 70,000 seasonal workers, a big jump from 55,000 last year.
THE FED SPEAKS
The
The remarks will follow a two-day meeting of the central bank’s policymakers. At their last meeting in July, policymakers kept the Fed’s key interest rate unchanged at a record low near zero. Fed policymakers also pledged to keep rates low until they are confident that the economy has weathered the pandemic-induced recession.
IF YOU BUILD IT
Builders are starting construction on more new homes and apartments as housing bounces back from a brief stall in the spring.
Construction of new
Housing starts, monthly, seasonally adjusted annual rate:
March 1,269,000
April 934,000
May 1,038,000
June 1,220,000
July 1,496,000
Aug. (est.) 1,450,000
Source: FactSet
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